Magnolia Oil & Gas Corp (MGY)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,226,980 | 1,694,490 | 1,078,350 | 541,303 | 942,156 |
| Receivables | US$ in thousands | 189,705 | 170,770 | 149,769 | 81,559 | 105,775 |
| Receivables turnover | 6.47 | 9.92 | 7.20 | 6.64 | 8.91 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $1,226,980K ÷ $189,705K
= 6.47
The receivables turnover ratio for Magnolia Oil & Gas Corp has shown fluctuating trends over the past five years. In 2019, the company had a relatively high receivables turnover ratio of 8.91, indicating that it collected its accounts receivable nearly 9 times during that year.
Subsequently, in 2020, the ratio decreased to 6.64, signaling a potential slowdown in the collection of receivables compared to the previous year. However, the ratio rebounded in 2021 to 7.20, showing an improvement in the efficiency of collecting receivables.
In 2022, the receivables turnover ratio significantly increased to 9.92, indicating that the company was collecting its accounts receivable at a faster rate than in the previous years. This uptrend reversed in 2023, with the ratio declining to 6.47, suggesting a potential decrease in the efficiency of collecting receivables during that year.
Overall, the fluctuating trend in Magnolia Oil & Gas Corp's receivables turnover ratio over the past five years signifies varying levels of effectiveness in managing its accounts receivable and collecting payments from customers.
Peer comparison
Dec 31, 2023